200,658 Shares in American Coastal Insurance Corporation $ACIC Bought by Militia Capital Management LLC

Key Points

• Militia Capital Management acquired 200,658 shares of American Coastal Insurance, worth approximately $2.26 million and representing about 0.41% of the company. Institutional investors and hedge funds collectively own 22.11% of ACIC.
• ACIC recently reported quarterly revenue of $71.22 million and earnings of $0.39 per share, missing analyst estimates of $75.78 million and $0.44 per share, respectively. Analysts expect full-year earnings of $0.96 per share.
• Analyst sentiment has weakened, with recent downgrades resulting in two Hold ratings and one Sell rating; MarketBeat reports an overall consensus rating of “Reduce.”

Militia Capital Management LLC acquired a new stake in American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 200,658 shares of the company's stock, valued at approximately $2,257,000. Militia Capital Management LLC owned approximately 0.41% of American Coastal Insurance at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACIC. Royal Bank of Canada increased its holdings in American Coastal Insurance by 290.7% during the 1st quarter. Royal Bank of Canada now owns 2,270 shares of the company's stock worth $25,000 after purchasing an additional 1,689 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of American Coastal Insurance by 4,508.6% in the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company's stock valued at $30,000 after purchasing an additional 2,615 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of American Coastal Insurance by 273.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company's stock worth $52,000 after buying an additional 3,434 shares during the period. State of Wyoming acquired a new position in shares of American Coastal Insurance during the second quarter worth about $59,000. Finally, State of Alaska Department of Revenue boosted its position in shares of American Coastal Insurance by 148.5% during the fourth quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company's stock worth $65,000 after buying an additional 3,088 shares during the period. 22.11% of the stock is owned by institutional investors and hedge funds.

American Coastal Insurance Price Performance

Shares of American Coastal Insurance stock opened at $10.62 on Monday. The business has a fifty day simple moving average of $10.67 and a two-hundred day simple moving average of $11.05. The company has a market capitalization of $514.69 million, a price-to-earnings ratio of 5.06, a P/E/G ratio of 3.69 and a beta of -0.51. American Coastal Insurance Corporation has a 1 year low of $9.77 and a 1 year high of $13.06.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.05). American Coastal Insurance had a net margin of 31.32% and a return on equity of 32.26%. The company had revenue of $71.22 million during the quarter, compared to analyst estimates of $75.78 million. As a group, equities analysts anticipate that American Coastal Insurance Corporation will post 0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ACIC shares. Zacks Research lowered American Coastal Insurance from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 21st. Wall Street Zen downgraded American Coastal Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut shares of American Coastal Insurance from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Coastal Insurance currently has an average rating of "Reduce".

American Coastal Insurance Company Profile

American Coastal Insurance Company NASDAQ: ACIC is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.

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